The value of $27 \frac{1}{3}$ is a mixed number, which can also be written as an improper fraction or a decimal.

As an improper fraction:

$27 \frac{1}{3} = \frac{27 \times 3 + 1}{3} = \frac{81 + 1}{3} = \frac{82}{3}$

As a decimal:

$27 \frac{1}{3} = 27 + \frac{1}{3} = 27 + 0.3333... \approx 27.3333$

Let me know if you'd like further explanation or need assistance with another problem!

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Here are 5 related questions:

1. How do you convert a mixed number to an improper fraction?
2. What are other examples of converting mixed numbers to decimals?
3. How can you simplify an improper fraction?
4. How do you convert a decimal back into a fraction?
5. What is the fractional representation of a repeating decimal like 0.3333...?

Tip: Converting between fractions and decimals is a useful skill, especially for solving problems that require precise measurements!